I have inherited a part of the mineral rights in the following: 161.70 acres NE/4 of Section 51 Block 1 313.68 acres of E/2 of Section 51 Block 1 74 acres of SE/4 Section 2 Block E I have an offer of $4K per acre for my 15.260556 NMA. Does anyone know or can you tell me where to get more info on this, and find out if drilling has begun around there? Is $4K a reasonable offer or what would be a reasonable offer?
I just want to make sure that I make an informed decision.
Thanks.
Below is what the Railroad Commission’s map currently shows around the two sections you mentioned that are outlined in red. Also below is the unit plat for a horizontal well called the Chupp that Peregrine Petroleum Partners got approved earlier this month. It looks like the unit includes the east half of Section 51 and on north into Section 56.
The RRC map shows horizontal wells Peregrine completed two sections to the west of 51 in early 2021, and in the adjoining section on the west side of Section 51 in October. With the recent addition of the Chupp Unit it looks like the drilling is continuing to move east.
I’m assuming your mineral interest is currently under lease to Peregrine. If you are seriously considering selling before that proposed well is drilled it might be logical to contact Peregrine to find out if they are interested in buying your interest since they should know the most about that area.
Thank you, I am beginning to think that I will probably hold for now. Hope they hit a good one!!!
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